With No Powerball Winners, Jackpot Grows to Estimated $1.3 Billion

[46Tbird]

Not a former lottery winner, and far from broke I assure you. It was built by a self made man to replace the log cabin he previously had on the property.

I'll stop talking shit since he's obviously done something right.

[bcoop]

50 million bucks to live in a tacky oversized log cabin in North Texas and pay over 90 grand in taxes every month? LMAO. That thing was DEFINITELY built by a former lottery winner, now bankrupt.

You could have a dozen incredible homes around the world for that.

Not a former lottery winner, and far from broke I assure you. It was built by a self made man to replace the log cabin he previously had on the property.

[46Tbird]

90k a month in taxes?

Total for the whole year isn't even that according to tarranty county tax website

That's based on an actual sell price of 50M.

[Sean88gt]

This. I'd be afraid of winning this kind of money. Every day would be a nervous fucking wreck. You'd have to go into hiding for months just to get your shit in order so you can literally "disappear". I can't begin to imagine the mind fuck that would come along with that kind of money. I mean seriously, what would the plan be? A normal life after winning wouldn't be possible for you, your kids or any immediate family.

It would take a pretty fast fade-to-black scenario. You'd damn near have to have a compound, or relocate to an area where being super-rich isn't a thing.

Where are you finding this? I have looked and can't find any type of law that excludes blind trusts or LLC's

http://www.txlottery.org/export/sites/lottery/Winners/Claim_Your_Prize/

This bill to change that is in committee: https://legiscan.com/TX/text/HB1504/2015

I'm still looking for the information I read where they changed the rules shutting down collection through a blind trust.

[03mustangdude]

50 million bucks to live in a tacky oversized log cabin in North Texas and pay over 90 grand in taxes every month? LMAO. That thing was DEFINITELY built by a former lottery winner, now bankrupt.

You could have a dozen incredible homes around the world for that.

90k a month in taxes?

Total for the whole year isn't even that according to tarranty county tax website

[46Tbird]

I'm buying this!

http://www.realtor.com/realestateand...ex=TX600044983

50 million bucks to live in a tacky oversized log cabin in North Texas and pay over 90 grand in taxes every month? LMAO. That thing was DEFINITELY built by a former lottery winner, now bankrupt.

You could have a dozen incredible homes around the world for that.

[Jewrrick]

That 4-500k per acre is lot pricing. Bulk acreage isn't that high per acre. Personally, I don't think an individual will buy this place. I see it being split up for development, which is a shame. JMO.

I get that, that's why I say at $50mil with house and everything else it seems like a reasonable price to list the property. Is it worth it? No but it's not that far off the mark, I could see it bringing $40-$45mil.

I agree that a development will likely be put in there and also agree that it would be a damn shame for that to happen.

[bcoop]

You say $400-$500k per acre and this is 188 acres. So that's $75.2 million plus the house and barn and all of that. I feel $50,000,000 is a decent asking price, I'm sure they will come down off of it but it's not a bad starting point in negotiations.

That 4-500k per acre is lot pricing. Bulk acreage isn't that high per acre. Personally, I don't think an individual will buy this place. I see it being split up for development, which is a shame. JMO.

[Jewrrick]

Yep, that 188 acres is gold out there, but yeah, $50mm is still stretching a bit. That said, people are rich out there, it just takes one buyer. Not to mention, you can always offer $40mm or whatever you feel it's worth and negotiate from there.

You say $400-$500k per acre and this is 188 acres. So that's $75.2 million plus the house and barn and all of that. I feel $50,000,000 is a decent asking price, I'm sure they will come down off of it but it's not a bad starting point in negotiations.

[quikag]

I think a few of the people posting missed that it's 188 acres, barn, etc; not just the house. Still over priced IMO.

Yep, that 188 acres is gold out there, but yeah, $50mm is still stretching a bit. That said, people are rich out there, it just takes one buyer. Not to mention, you can always offer $40mm or whatever you feel it's worth and negotiate from there.

[GeorgeG.]

Not unless you're a qualified investor.

nevermind, I'm not even a qualified client.

[bcoop]

Value is mostly in the land on that beautiful log cabin home in Westlake. Acreage in Westlake is going for $400-500k/acre for a decent lot

I think a few of the people posting missed that it's 188 acres, barn, etc; not just the house. Still over priced IMO.

[quikag]

Value is mostly in the land on that beautiful log cabin home in Westlake. Acreage in Westlake is going for $400-500k/acre for a decent lot

[bcoop]

Is that the same property with the log cabin that burned a few years ago? I grew up right around the corner.

Yessir.

[TexasPyro]

Is that the same property with the log cabin that burned a few years ago? I grew up right around the corner.